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Pension transfer values ‘fairly stable’ compared to Q2

16 August 2017

Xafinity has reported that its measure of the value of Defined Benefit transfers – as indicated by the Xafinity Transfer Value Index – stayed relatively stable in July, falling by less than 1% from £232,000 at the beginning to £230,000 at the end of the month.

The difference between maximum and minimum readings of the Xafinity Transfer Value Index over July 2017 was just £6,000 (or around 2.5%). This follows a period of greater volatility over the second quarter of 2017.

Sankar Mahalingham, head of DB Growth, Xafinity welcomed the fact that transfer values had stayed “fairly stable during July 2017”, compared to the volatility in transfer values measured by the index over Q2 of 2017 but said:

The difference between maximum and minimum readings of the Xafinity Transfer Value Index over Q2 2017 was £13,000. Just in June, the Xafinity (TVI) decreased 3.7%, falling to £232,000 at the end of month.

It would remain to be seen, Mahalingham said, whether this period of relative calm in July would continue over the remainder of the summer.

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).

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